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The Dubber Corp Ltd (ASX: DUB) share price has returned from its trading halt and is charging higher.

At the time of writing, the leading unified call recording platform provider’s shares are up 8.5% to $1.88.

Why was the Dubber share price in a trading halt?

Dubber requested a trading halt on Monday so that it could prepare an announcement relating to a major new acquisition.

This afternoon the company revealed that it has acquired UK-based call recording and Payment Card Industry (PCI) compliance solutions provider, Speik.

Management notes that the acquisition furthers Dubber’s vision of dubbing the world’s networks and communications solutions to put artificial intelligence on every phone, transforming voice data into a source of value for enterprises and governments globally.

According to the release, Speik was formed in 2019 through a merger of Aeriandi and Voxygen. The latter had been supplying a hardware-based recording platform to Telefonica UK (also known as O2), one of the UK’s leading networks. Whereas Aeriandi had been providing PCI compliance solutions in conjunction with leading UK service providers including Vodafone and Gamma.

Speik has annual revenue of ~7 million pounds (~A$12.4 million) and is growing month-on-month. It is profitable, which management expects to enhance the company’s consolidated bottom line.

What will this cost Dubber?

The aggregate consideration is approximately 21.5 million pounds (A$38 million). This is payable in cash and/or shares, as elected by the selling shareholders, with a 5% reduction if taken in cash.

The initial consideration is 10.1 million pounds (A$17.9 million) and was paid at completion, with 7.9 million pounds paid in cash and loan notes. The balance will be satisfied by way of the issue of 2,441,533 Dubber shares at a deemed issued price of A$1.60.

An earn-out consideration is payable in mid-2022 subject to the achievement of an agreed EBITDA target, with the amount payable determined as multiples of specified revenue streams across the Speik business.

Management commentary.

Dubber’s CEO, Steve McGovern, appeared delighted with the acquisition. He said:

“Dubber’s acquisition of Speik is fundamentally accretive on all levels. Speik brings to Dubber a strong footprint in the leading UK-based mobile network provider, world-class technology resources, and a growing base of subscribers.”

“The Dubber product suite has a capability to expand Speik’s revenue opportunities with O2 – and other service providers – from its current enterprise focus into the larger addressable markets of mobile SME and across unified communications (UC) and Microsoft Teams services with Unified Call Recording.”

“We believe that Dubber can substantially accelerate growth and adoption in that and other key UK-based relationships while using Speik’s PCI services to drive additional revenues with our service provider partners. We welcome the Speik team to our growing Dubber family and look forward to serving our mutual customers like never before.”

More reading

• Top ASX shares to buy in December 2020
• Here are the best performing ASX tech shares in November
• Dubber (ASX:DUB) share price shoots up 14%, nears 52-week high

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is having another day in the red today. The ASX’s flagship index is down 0.61% at the time of writing. But one ASX dividend share is having an even worse day. AGL Energy Limited (ASX: AGL) shares are taking a nasty hit today.

The AGL share price is down 3.79% to $12.06 this afternoon at the time of writing, a new 52-week low. But get ready for this statistic: AGL shares, at this new share price, are now at a 12-year low. That’s right, AGL is now trading at the same share price it was back in mid-2008. And the shares are now down more than 56% since their last high of ~$27.70 seen back in 2017.

More bad news for AGL shareholders

The catalyst for this latest downward move? This morning, AGL issued some updated profit guidance for the FY2021 year we are now halfway through. AGL told investors it now expects its net profit after tax to be in the range of $560 million to $660 million, down from the $500 million to $580 million it previously flagged. The company blamed the recent incident at its Liddell power plant, as well as a warmer winter and unfavourable wholesale electricity market for the revision.

And it’s not like that announcement isn’t the latest in a long line of disappointing announcements shareholders have had to accept. Back in August, the company reported that its profits for FY2020 were down 22% on FY2019’s numbers. The AGL share price crashed 10% on that news at the time.

But this all comes with a possible upside for ASX dividend investors in particular. As any dividend investor would know, a lower share price means a higher dividend yield on offer (assuming a steady payout of course). And on today’s AGL share price, the company’s trailing dividend yield is now worth a whopping 8.12%.

Now back in August, the company committed to paying out virtually 100% of its profits as dividends over FY2021 and FY2022, albeit without any franking credits attached. AGL did not mention its dividend in the update this morning. But that arguably means investors can still expect all of AGL’s profits will be paid out this financial year, and in FY2022.

Are AGL shares a buy today?

An 8.11% dividend might sound tempting. But one broker doesn’t think so. Analysts at Morgans have reportedly cut their AGL share price target to just $11.18 this morning, implying further downside for this energy retailer.

More reading

• ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps
• Why AGL, Mesoblast, WiseTech, & Woodside are dropping lower
• The Unibail Rodamco Westfield (ASX:URW) share price has dipped 3% today
• US Congress finally confirms more stimulus. Higher markets to follow?
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BetMakers Technology Group Ltd (ASX: BET) share price emerged from its trading halt this morning and jumped higher before dropping below its opening price. 

At the time of writing, the Betmakers share price is trading down 2.07% at 71 cents. Let’s take a look.

Why is the BetMakers share price so volatile?

Shares in the Aussie betting group surged nearly 7% higher this morning after the company announced a new international distribution deal.

BetMakers has signed a new agreement with Prime Sports Jamaica Limited (PSJ) and Supreme Ventures Racing and Entertainment Limited (SVREL). Both entities are wholly-owned by Supreme Ventures Limited.

The new 5-year agreement will see BetMakers secure the rights to manage fixed odds wagering on all horse racing through SVREL channels. The agreement also gives the wagering group the right to distribute and manage all racing data through the channels.

BetMakers says it believes the agreement will have a “material impact” on the company’s revenues. 

The company has also entered into a sponsorship agreement with SVREL.

That agreement will see BetMakers take exclusive naming and branding rights to a new trainers pavilion to be constructed at Caymanas Park and be a named sponsor with broad advertising rights at key events.

How have BetMakers shares performed this year?

Today’s announcement is the latest in a long line of partnership agreeements from BetMakers.

Shares in the Aussie wagering group have rocketed more than 400% higher since the start of the year. That’s partly due to the coronavirus pandemic which has seen a surge in gambling popularity around the world.

The BetMakers share price is currently trading at 71 cents per share, roughly 10% shy of its 80 cents per share 52-week high.

The Aussie company has a market capitalisation of $430.1 million with a 4.9% dividend yield at the time of writing.

In contrast, the S&P/ASX 300 Index (ASX: XKO) has fallen 0.7% to 6,622 points.

More reading

• Why the BetMakers (ASX:BET) share price is surging 12% higher today
• Why tech investors should watch the Tesserent (ASX:TNT) share price next year
• Why BetMakers, Medical Development International, Qantas, & Zip are dropping lower
• Why the BetMakers (ASX:BET) share price is crashing 15% lower today
• Why the BetMakers (ASX:BET) share price is up 12% to a record high

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The National Storage REIT (ASX: NSR) share price could be overvalued according to one leading broker.

Who’s bearish on National Storage?

According to a note out of Goldman Sachs this week, its analysts have retained their sell rating but lifted the price target on the self-storage operator’s shares slightly to $1.57.

This follows the release of the company’s trading update and guidance for FY 2021 last week.

That update revealed that National Storage now has a total of 206 centres across Australia and New Zealand following the acquisition of 17 centres and the development of two more in FY 2021.

Management also advised that its combined Australian and New Zealand same centre occupancy has lifted to 85.7%, from 78.9% at the end of June.

Also improving is its same centre revenue per available square metre (REVPAM) metric. At the end of November, its REVPAM was up 6.2% since the end of June to $207.

Finally, in respect to its guidance, the company is expecting to deliver earnings per share at the upper end of the guidance range of 7.7 cents per share to 8.3 cents per share.

What did Goldman Sachs think of this update?

While the broker was pleased with aspects of this update, there wasn’t enough detail to allow it change its view.

Goldman explained: “Although occupancy and REVPAM have both improved relative to the comparable metric at June 30, NSR’s disclosure is not sufficient to estimate the effective rate – given REVPAM is just for the Australian 2018 same centre portfolio (in-line with disclosure in its June 30 presentation) and the occupancy provided in this update is the combined same centre portfolio for both Australia and New Zealand.”

“We also note the increase in occupancy must be viewed in the context of higher rates of discounting, but there is also not enough disclosure to accurately estimate the prevailing rate of discounting in the portfolio. However, for illustrative purposes, if we assume the occupancy and REVPAM are for the total portfolio, we estimate the effective rate declined by roughly 2%,” it added.

Valuation concerns.

Goldman Sachs’ main issue is its current valuation, which it appears to believe is excessive compared to its peers.

“At the A$1.57 TP, NSR offers a 12-month total return of -18% (vs. coverage average +1%) and it is trading at a 23x FY22E FFO multiple versus our coverage at 17x. We remain Sell rated and see more attractive opportunities on relative valuation and upside in our small caps and alternatives coverage,” it concluded.

Goldman Sachs’ preferred pick in the space is Charter Hall Social Infrastructure REIT (ASX: CQE). Its analysts have a conviction buy rating and $3.35 price target on its shares.

More reading

• 2 ASX dividend shares with 4%+ yields
• Why the National Storage (ASX:NSR) share price is dropping lower
• Here’s what these popular ASX dividend shares plan to pay investors in 2021
• 2 ASX shares with generous dividend yields
• 2 ASX dividend shares to buy this week

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Earlier on in the year, COVID-19 had an adverse impact on the capital markets and initial public offering (IPO) activity. However, gradually improving trading conditions resulted in the ASX seeing its fair share of unique company listings in 2020 afterall. Here are two of the best performing ASX IPOs of the year, both of which delivered spectacular returns for those who managed to get in early. 

2 stellar ASX IPOs of 2020

Douugh Ltd (ASX: DOU) 

The Douugh share price has soared more than 450% from its 3 cent IPO price. Douugh believes the current business model operated by banks and neobanks is outdated, and the company aims to disrupt the status quo with a radically new banking model. Its app harnesses the power of artificial intelligence (AI) to automate banking in an effort to foster financial wellness and help users achieve their financial goals.  

The app includes the types of features you’d expect from a checking account as well as the ability to track fixed expenses and subscriptions, manage spending and more. Over the next 12 months, Douugh plans to introduce a variety of feature updates before rolling out a monthly subscription fee. It plans to launch an automated money management assistant called Autopilot and new managed investment portfolios called Wealth Jars. 

More recently, the company launched its app in the United States after a successful 18-month beta trial. Its go-to-market growth strategy is focused on key digital media channels and working with Google to utilise its AI-powered ad bidding platform to target profitable customers. It also partnered up with Humm Group Ltd (ASX: HUM) to manage a line of credit of up to US$1,000 to eligible customers through a dedicated ‘Credit Jar’ on the Douugh platform and virtual Mastercard. 

Cosol Ltd (ASX: COS) 

Cosol is a digital services company focused on clients operating in asset-intensive industries such as transport, oil & gas and mining. These companies typically have in place complex and capital-intensive systems, underpinned by software such as SAP and Ellipse, to manage the lifecycle of their physical assets. By utilising its own proprietary software and its extensive services capabilities, Cosol delivers a range of IT and business solutions to its clients. 

The company is profitable with pro-forma FY20 EBIT increasing 42% to $3.93 million and NPAT increasing 45% to $2.88 million, giving this ASX share a price-to-earnings (P/E) ratio of approximately 35 at today’s prices. The company is optimistic for the year ahead as its clients are providers of critical services such as water, mining, energy, defence, and public infrastructure. Investors who managed to participate in the Cosol IPO, which had an offer price of just 20 cents, would currently see returns sitting at 290%. 

More reading

• Why the Douugh (ASX:DOU) share price is pushing higher
• ASX 200 rises on Tuesday
• Why the Douugh (ASX:DOU) share price is rocketing 15% higher today
• Why is the Douugh (ASX:DOU) share price in trading halt today?

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Lina Lim has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Mastercard. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Humm Group Limited, and Mastercard. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BOD Australia Ltd (ASX: BDA) share price is climbing higher on news the company has secured purchase orders for the Italian market. In midday trade, the Bod share price is up 5.7% at 46 cents.

What did Bod announce?

This morning, Bod advised it has received additional orders from its exclusive global partner, Health & Happiness Group, for 4 Swisse Wellness-branded hemp seed oil products to be sold in Italy.

This follows an initial order from Health & Happiness, in which $1 million worth of products entered the Italian market last month. The new purchase of the hemp seed oil products is worth $871,413. As per the licencing agreement terms, Bod will also collect royalty payments on net product sales, and a cost-plus margin for the supply of its ingredients.

Enclosed in a soft gel cap form, the hemp seed oil products are designed to promote sleep, reduce stress and increase general wellness. Once delivered, the batch will be distributed to more than 4,000 pharmacies as well as being available through Swisse e-commerce channels.

Bod revealed that the market entrance into Italy will coincide with the launch of a Swisse branded marketing campaign. In-store promotions and social media advertising will form part of a sales initiative to drive purchases and increase brand awareness.

In addition, the company will seek to further strengthen its revenue growth by introducing nine new products into the United Kingdom and Europe. Marketed under the brand name of Swisse and CBII, the CBD and hemp products will include topical creams, soft gel caps and other skincare items.

As Bod’s manufacturing facilities have started production, it is expected that these will be launched in the coming months.

What did management say?

Bod CEO Jo Patterson welcomed the progress, saying:

It is pleasing to see the momentum that is building for the Italian market in a short time period which strengthens the company’s growing revenue profile and highlights the potential growth trajectory that our exclusive global agreement with H&H Group can deliver.

Bod is now selling products in Australia, the UK, France, Italy and the Netherlands. H&H Group have an established footprint in each of these key markets and with a number of new products to be brought to market shortly, we expect additional purchase orders to continue to grow in size and volume.

More on the Bod share price

The Bod share price performed relatively well before the start of this month, increasing more than 400% from its March lows.

However, in the past week alone, its shares have dropped more than 20%. This comes after reaching a 52-week high of 74 cents 2 weeks ago.

More reading

• Should I pay attention to the ABS labour force data tomorrow?
• Starpharma (ASX:SPL) share price dips despite positive update
• ASX company busted allegedly misleading customers
• Leading brokers name 3 ASX shares to sell today
• Here’s why a big broker thinks you should avoid these ASX gold shares 

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This Wednesday, the Australian Bureau of Statistics (ABS) will release the outcomes of November’s detailed labour force survey. The release of the ABS labour force data usually gains a round of attention, because the unemployment numbers it covers are a widely referenced economic indicator.

When unemployment spiked to 7.1% in June, we spoke a bit about what this can mean for markets and the economy.

What else should I look out for, besides unemployment?

In addition to covering unemployment statistics, ABS labour force data covers things like who actually is working, what they’re doing and for which industries. Details like this can potentially help create an economic roadmap for what lies ahead.

For example, if we consider how the data breaks statistics down by age, we can determine what industries are presently adequately staffed, and which might require further support in the future.

Let’s also not forget the value this information offers the government when it reviews and assesses financial initiatives such as the JobKeeper program.

Does my portfolio care about the ABS labour force data?

This is a tricky question to answer. Put simply, share markets react to these type of announcements in a ‘business as usual’ type of way — with volatility and unpredictability.

On 4 December, the US announced that its November jobs number had missed the mark, although unemployment was slightly down. The S&P 500 opened higher the following session and has continued its bumpy ride upward since.

Closing thoughts?

I personally find the the ABS labour force data to be a large stack of spreadsheets that take a very long time to download! Usually the announcements that circulate alongside the data’s release clue us all in on the highlights, so I’ll just wait for those.

But if you’re someone with the time and desire to dig into the current trends, there is a lot of information there that paints a big picture of what’s going on with Australia’s labour market.

More reading

• Why the Bod (ASX:BDA) share price is rising 5% today
• Starpharma (ASX:SPL) share price dips despite positive update
• ASX company busted allegedly misleading customers
• Leading brokers name 3 ASX shares to sell today
• Here’s why a big broker thinks you should avoid these ASX gold shares 

Motley Fool contributor Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Starpharma Holdings Limited (ASX: SPL) shares are edging lower despite the company announcing a positive update on its Viraleze antiviral nasal spray. At the time of writing, the Starpharma share price is down by 0.65% cents to $1.53.

What did Starpharma announce?

The Starpharma share price is sliding today despite the fact the Melbourne-based biopharmaceutical company reported it has now received all necessary approvals to commence the clinical study for its COVID-19 nasal spray product, Viraleze.

The study will commence enrolment of healthy volunteers in Perth in early January 2021, and is expected to be completed in the first quarter of calendar year 2021.

Starpharma says the study is being undertaken to support commercialisation activities for Viraleze, and is not a requirement to achieve EU product registration. The study will be conducted in 40 healthy volunteers, who will use the product four times a day for 14 days.

The company has advised it will continue to aggressively pursue an expedited regulatory approval pathway for the product, leveraging the extensive data already available for SPL7013 in Viraleze.

SPL7013 is an astrodimer sodium ingredient used in the nasal spray, with laboratory studies showing it to have significant antiviral activity against the coronavirus that causes COVID-19.

Starpharma reported the EU regulatory dossier is now more than 90% complete, and Viraleze is on track to be registered and ready for market in the first quarter of 2021.

The company’s CEO, Dr Jackie Fairley, commented:

We continue to make excellent progress towards the launch of this important product, including manufacturing campaigns of Viraleze early in the new year.

Starpharma is working hard to bring this product to market as quickly as possible, in the first quarter of 2021.

The worsening situation of COVID- 19 in Europe in particular clearly highlights the need for preventative strategies for use alongside PPE and vaccines. Not surprisingly, our recent consumer research in Europe indicates strong demand for Viraleze.

More about the Viraleze antiviral nasal spray

The product was already announced to the market on 10 December, sending the Starpharma share price 15% higher that day.

Viraleze will be marketed as an antiviral nasal spray for SARS-CoV-2, and will also be marketed as an antiviral nasal spray for other respiratory viruses such as influenza and RSV. RSV is also a common and very contagious virus that affects the lungs and airways.

According to Starpharma, the broad spectrum antiviral activity of Viraleze is a compelling differentiating feature, and means the product could have an important role to play in helping fight future pandemics.

About the Starpharma share price in 2020

The Starpharma share price has had a good year, rising by 25% year to date.

The higher share price is reflective of Starpharma’s progress this year. For the 12 months ended 30 June 2020, the company reported a 162% increase in revenue to $7.1 million.

That was driven by VivaGel product sales and royalties and a $4.34 million milestone payment by AstraZeneca for the first dose of AZD0466 administered in the phase 1 trial of its first DEP product.

At the current price, the company commands a market capitalisation of $635 million.

More reading

• Why Asaleo Care, Fortescue, Perpetual, & Starpharma shares are storming higher
• Starpharma (ASX:SPL) share price jumps 15% after COVID-19 nasal spray update

Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Energy provider Origin Energy Ltd (ASX: ORG) has paid a $126,000 penalty after the consumer watchdog accused it of misleading customers.

The Australian Competition and Consumer Commission (ACCC) revealed Tuesday the fine was paid in response to an infringement notice for a letter Origin sent to Victorian clients.

The letter stated that electricity prices were rising and the reason for it was the Victorian Essential Services Commission’s increase to the Victorian Default Offer.

But in reality, the default offer has no impact on what energy retailers charge most consumers, who are on market offers.

“Electricity retailers must be clear when making price increase announcements so consumers aren’t given the misleading impression that government changes that don’t apply to them are the reason for the increase,” said ACCC chair Rod Sims.

“The decision of whether or not to increase the electricity prices of customers on market offers was entirely in Origin’s hands, and they chose to increase prices for the majority of these customers.”

The vast majority of electricity customers in Victoria, NSW, South Australia and south-east Queensland are on market offers. These are the familiar plans put out by retailers with customised discounts on set contracts.

The default offer only applies to the very small minority of customers who choose not to enter the retail market.

The Victorian Essential Services Commission decided to increase the default offer by 7.8% in November last year. The power company then sent the allegedly misleading letter in December 2019.

Origin acknowledges the mistake

Origin retail executive general manager Jon Briskin told The Motley Fool that, for simplification, rates for all Victorian customers were raised by the same 7.8%.

“Within two days of issuing the first batch of letters to customers in early December 2019, we realised we were not clear enough about the reason for our price change and took immediate action to address this, which included adding a message to all residential customer bills from January to May 2020,” he said.

“We aim to achieve the highest standards of customer service across Origin… so it is disappointing we didn’t meet these standards on this occasion.”

Briskin added that Origin acknowledged the mistake and accepted the ACCC’s findings.

The payment of the financial payment is not an admission of a legal breach.

Origin’s share price was down 1.35% in early trade Tuesday, selling for $4.74.

The Motley Fool reported Monday that the stock price had fallen more than 40% this year due to a COVID-induced export earnings crash.

More reading

• Why the Origin Energy (ASX:ORG) share price has dipped today
• Which ASX 200 sectors performed the best in November? 
• Brokers name 3 ASX shares to buy right now
• Origin Energy (ASX:ORG) share price on watch after investor update
• Why Origin, Qantas, Webjet, & Westpac shares are storming higher

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below.

Here’s why these brokers are bearish on these ASX shares:

A2 Milk Company Ltd (ASX: A2M)

According to a note out of Citi, its analysts have retained their sell rating and $14.20 price target on this infant formula company’s shares. The broker was disappointed but not surprised by a2 Milk’s recent update which revealed significant weakness in the daigou channel and led to a sizeable guidance downgrade. Citi doesn’t appear to believe these headwinds will ease quickly and holds firm with its sell rating, even though its shares are now trading well below its price target. The a2 Milk share price is trading at $10.50 this afternoon.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

Analysts at Morgan Stanley have retained their underweight rating but lifted the price target on this regional bank’s shares to $7.70. It notes that its housing loan growth is well ahead of forecasts, recent changes from APRA are favourable, and its growth strategy appears well-supported. However, it doesn’t believe its shares offer value for money at the current level and prefers other options in the space. The Bendigo and Adelaide Bank share price is fetching $9.48 on Tuesday.

QBE Insurance Group Ltd (ASX: QBE)

A note out of Macquarie reveals that its analysts have retained their underperform rating and $8.00 price target on this insurance giant’s shares. This follows the release of a market update which revealed that QBE is expecting to post a significant loss in FY 2020. It doesn’t appear to believe the worst is over for the company and notes that its return on capital expectations in North America are below its cost of capital. The QBE share price is trading at $8.76 today.

More reading

• Why a2 Milk, Doctor Care Anywhere, McPherson’s, & Volpara are pushing higher
• ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps
• Why brokers slashed their A2 Milk (ASX:A2M) share price target
• What does China have to do with the a2 Milk (ASX:A2M) share price?
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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